West Fraser to acquire Texas mill

West Fraser | Integrated Forestry CompanyWest Fraser Timber Co. announced it has reached a deal to acquire the Angelina Forest Products lumber mill in Lufkin, Texas, for about $300 million.

The new turn-key facility, which produces southern yellow pine lumber products, began construction in 2018. Operations commenced in late 2019 and are expected to progress toward a full production capacity of approximately 305 million board feet over the next three to four years. The transaction includes some $4 million of target working capital and about $24 million of supplemental tax attributes that are expected to result in a direct cash flow benefit to West Fraser.